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Indian oil refiners shut for work before likely demand pickup

Bharat Petroleum has lined up work at its plants across India, while Hindustan Petroleum Corp. is completing pending repairs and an expansion of its Mumbai refinery. ....

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IT stocks outlook: Is IT dream run coming to an end, or virtuous cycle seeing a pause?

"While the market continues to view the Q4 earnings disappointment as a blip, we think this is an indication the earnings cycle has come to a peak for offshore IT services providers," UBS India said in a note on Wednesday. ....

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FPI outflows: Don't be complacent with stocks rally; UBS says FPI backlash may cut gains

MUMBAI: The Indian equity market has been the third-best performer in all of Asia over the past 12 months with 59 per cent returns, but a fierce second Covid-19 wave could see foreign investors pull out as much as $5 billion in the coming months.
Brokerage firm UBS Securities India reckons that the recent foreign outflows from India could touch the $5 billion mark, as the Indian equity market undergoes a correction due to the risk to earnings growth from the second Covid wave.
“If valuations correct faster, the drawdown might be smaller; but if equity valuations are slow to correct and Covid-19 situation worsens, we could see a larger drawdown,” UBS Securities said in a report. ....

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Electronic Arts to buy Glu Mobile for $2.4 billion in mobile gaming push

By Akanksha Rana and Krystal Hu
(Reuters) - Electronic Arts Inc said on Monday it would buy Glu Mobile Inc for $2.4 billion, bolstering its mobile platform with the addition of games such as Design Home , Covet Fashion , and MLB Tap Sports Baseball .
The U.S. video game developer has offered $12.50 in cash for each Glu share, a premium of about 33% to its closing price on Monday. Electronic Arts (EA) stock was up 1.4% in extended trading, while Glu shares surged 34%.
The deal, which is expected to close in the quarter ending June 30, gives Glu an enterprise value of $2.1 billion.
San Francisco-based Glu received multiple takeover offers last year as its stock has underperformed those of its gaming peers, a source familiar with the situation said. ....

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Netflix Stock Soars to Near Record Highs on Q4 Subscriber Beat, Positive Free Cash Flow Forecast

Netflix Stock Soars to Near Record Highs on Q4 Subscriber Beat, Positive Free Cash Flow Forecast
lmtonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lmtonline.com Daily Mail and Mail on Sunday newspapers.

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